Financing Rising Longevity (Living Longer)
Published / Last Updated on 25/07/2008
Financing Rising Longevity (Living Longer)
According to research from Life Trust Insurance Plc, just over half of Britons (54 per cent) said they would be worried about their ability to finance their retirement if they were to live for 10 years longer than today’s average life span of 82 years. With a person aged 50 today having a one in two chance of reaching 90 and a one in 10 chance of reaching 100, the company asserted that rising longevity could result in many people needing to rethink their retirement finances. Those polled said that they would have to adapt their finances and working lives accordingly.
Our view
We are living longer than ever before but failing to plan our pensions to cope with this. In simple terms, we must take our finances much more seriously and plan for living longer.
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